Auction Case Study

Auction Services for large Energy provider

Our client

Project Type: Auction Services
Industry: Energy & Utilities

Our client is one of the largest public power providers in North America. Their fleet includes nuclear stations, hydroelectric stations, fossil fuel and renewables.

After downsizing several facilities, our client had surplus maintenance, repair and overhaul (MRO) equipment and spare parts, as well as idle power generating equipment. Our client sought an expedient asset recovery solution that would align with their facility’s closure.

After closing a facility and downsizing several others, our client sought to sell their idle and surplus assets, which included a wide range of MRO and electrical equipment. Due to a limited timeframe to remove assets, our sales strategy had to include various sales strategies.

Types of equipment sold on behalf of client

Our Client's challenge

Prior to engaging with NRI, the client listed out 3 problems they wanted to address:

Challenge #1

Due to the facility’s decommissioning schedule, we had a limited two-month timeframe to sell more than 5,000 assets. As a result, expedient onsite sales were crucial to this project’s success.

Challenge #2

Selling MRO equipment and parts was just as resource intensive as selling larger equipment, such as power generating equipment. Our sales strategy had to be as efficient as possible.

Challenge #3

The project required we utilize our client’s staff. Establishing proper communication channels with our client’s human resource department and their staff’s labour union was critical to meet our two-month timeline.

How we helped

To expedite and maximize asset recovery, our sales strategy involved:

1. Organizing an online industrial auction

2. Hosting the sale on an industrialspecific auction platform to target relevant and interested buyers

3. Grouping MRO equipment and parts into larger lots thereby selling the assets more quickly and at a higher value

The results

Utilizing an online industrial auction enabled us to:

More Efficiency

Reduce the resources and time required to sell individual items

More Value

Sell more than 5,000 pieces of equipment for a combined total of $1 MIL